MetLife (NYSE:MET) Price Target Raised to $93.00 at Wells Fargo & Company

MetLife (NYSE:MET) had its price objective hoisted by Wells Fargo & Company from $92.00 to $93.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on MET. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods dropped their price objective on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Barclays decreased their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley cut their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Stock Performance

NYSE MET opened at $78.15 on Tuesday. The firm has a market cap of $54.73 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 0.71 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $80.73 and its 200-day moving average is $75.03. MetLife has a 12-month low of $58.89 and a 12-month high of $86.94.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.79%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd raised its holdings in shares of MetLife by 31.5% during the 3rd quarter. Plato Investment Management Ltd now owns 24,683 shares of the financial services provider’s stock valued at $2,034,000 after buying an additional 5,916 shares in the last quarter. Main Street Financial Solutions LLC purchased a new position in shares of MetLife during the third quarter worth approximately $234,000. Kovack Advisors Inc. lifted its holdings in shares of MetLife by 317.1% in the 3rd quarter. Kovack Advisors Inc. now owns 17,529 shares of the financial services provider’s stock worth $1,446,000 after acquiring an additional 13,326 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC purchased a new stake in shares of MetLife in the 3rd quarter valued at $352,000. Finally, Aptus Capital Advisors LLC grew its holdings in shares of MetLife by 4.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 10,885 shares of the financial services provider’s stock valued at $898,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.